Centre, the consortium which oversees the issuance standards for stablecoin USDC, announced on the 30th that it has built a new team to promote digital currencies and related services at a global level.
The consortium was founded by crypto exchange Coinbase and payments technology company Circle to provide a regulatory and operational framework for issuing stablecoins.
The Centre manages “the creation, redemption, and flow of these assets under a new organization independent and separate from Circle.”
In a press release issued by the consortium, the new team would consist of six people, including executives such as Chief Commercial Officer, Chief Risk Compliance Officer, and Chief Financial Officer.
The following individuals are hired along with their respective roles in the team:
- John Shipman, Chief Commercial Officer
- Mark duBose, Chief Risk and Compliance Officer
- Beth Zolkind, Chief Financial Officer
- Chad Richman, Senior Counsel
- Jessica Gardner, Business Operations Manager
- Kevin Mills, Graduate Project Manager
Jeremy Allaire, co-founder and CEO of Circle said in a statement:
“The growth of USDC and the opportunity for Centre to play a larger role in changing the global financial landscape is truly extraordinary. The addition of new, experienced leaders at Centre will help support continued USDC adoption and trust in the marketplace, while harmonizing governance and our open technology roadmap.”
The center said in the announcement that it is now possible for financial institutions around the globe to issue USDCs by leveraging the membership system and open-source framework.
The distributed volume of USDC at the time of writing exceeded $27 billion. It currently operates on five blockchains, Ethereum (ETH), Algoland (ALGO), Stella (XLM), Solana (SOL), and Tron (TRX), and will function on multiple blockchains in the future.
The press release also noted that apart from the additional staff, Centre will also offer membership in the Consortium to eligible organizations.
Previously, the consortium was in the news after it announced that it will limit USDC backing assets entirely in cash and short-term US Treasuries.